Criticare Systems, Inc. Comments on Current Business Status
June 08 2006 - 2:47PM
Business Wire
CRITICARE SYSTEMS, INC. (AMEX:CMD). Criticare Systems, Inc. today
comments on its general business trends with respect to a drop in
share price this past 2 weeks. The company continues to experience
overall growth, with the expectation of ending the fiscal year with
the highest revenue line in the Company's history. Criticare's
acute care sales organization, which inherited the customer base
from a former original equipment manufacturer ("OEM") partner, will
exceed the largest year Criticare experienced under the OEM
agreement. This is being accomplished, despite the fact that the
acute care distribution network is in the first year of existence.
Criticare's oral surgery business is ahead of last year and is
currently managing the launch of a new product offering with
initial sales significantly outpacing forecasts. OEM sales have
also exceeded the previous year, with MRI and Respiratory Gas
market efforts still in their infancy, having significant growth
potential. Criticare's international business, as was stated in the
May 12, 2006 conference call, is currently being revamped, with the
aim at improving their margin contribution. The sales backlog in
international is higher than previous years, which due to the
revamping, reflects a tightening of the company's credit policies.
The company continues efforts to add new OEM partners, has a strong
portfolio of new products under development, and operates in a debt
free environment. Criticare (www.csiusa.com) designs, manufactures,
and markets cost-effective patient monitoring systems and
noninvasive sensors for a wide range of hospitals and alternate
health care environments throughout the world. This press release
contains forward-looking statements. Such statements refer to the
Company's beliefs and expectations. Forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those described. Such
uncertainties include, but are not limited to, the timely
completion of new products, regulatory approvals for new products,
the risk of new and better technologies, risks relating to
international markets, as well as general conditions and
competition in the company's markets. Criticare does not believe
its backlog of any date is indicative of its future sales. Other
risks are set forth in Criticare's reports and documents filed from
time to time with the Securities and Exchange Commission.
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